Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at CLEAR Secure (NYSE:YOU) and the best and worst performers in the data analytics industry.
Organizations generate a lot of data that is stored in silos, often in incompatible formats, making it slow and costly to extract actionable insights, which in turn drives demand for modern cloud-based data analysis platforms that can efficiently analyze the siloed data.
The 7 data analytics stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 2.7% while next quarter’s revenue guidance was 2.6% above.
Thankfully, share prices of the companies have been resilient as they are up 5% on average since the latest earnings results.
CLEAR Secure (NYSE:YOU)
Recognized by its signature blue lanes and biometric pods at airport checkpoints across America, CLEAR Secure (NYSE:YOU) provides biometric identity verification technology that allows subscribers to bypass regular security lines at airports and access secure experiences at various venues.
CLEAR Secure reported revenues of $253 million, up 19.7% year on year. This print exceeded analysts’ expectations by 3.5%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts’ EBITDA estimates and revenue guidance for next quarter exceeding analysts’ expectations.
Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 3.4% since reporting and currently trades at $56.75.
Best Q1: Palantir Technologies (NASDAQ:PLTR)
Named after the all-seeing stones in “Lord of the Rings,” Palantir Technologies (NASDAQ:PLTR) develops software platforms that help government agencies and enterprises integrate, analyze, and operationalize their data for decision-making.
Palantir Technologies reported revenues of $1.63 billion, up 84.7% year on year, outperforming analysts’ expectations by 6.1%. The business had a stunning quarter with a solid beat of analysts’ billings and EBITDA estimates.
Palantir Technologies delivered the biggest analyst estimate beat, highest guidance raise, and fastest revenue growth of the whole group. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 9.7% since reporting. It currently trades at $131.82.
